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7607 N 53rd St Tampa, FL 33617

3 Beds 2 Baths 1,245 sqft Built 1964

$212,500

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $170.68
  • 2 Days on Market
  • MLS # : T3287567
  • Updated Date : 01/30/2021 at 19:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,245 sqft
  • Baths : 2 full
Listing Agent

Century 21 Beggins Enterprises

Listing Agent's Description

Location, location! stop the car and take a look at this 3 bedrooms, 2 full bathrooms home with an amazing fenced in backyard with endless possibilities. Screened back lanai, extended exterior area with pavers for extra entertaining. No HOA or CDD! Newer appliances, granite counter tops, new luxury vinyl flooring throughout the home, open floor plan and a Florida room. Master bathroom features a new vanity as well. Set up your private showing and preview this great property! Agente Habla español.

SEE MORE

MARKET HIGHLIGHTS

  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)
  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)

PRICE & RENT TRENDS

Neighborhood: 40th Street Corridor

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $52k238k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: 40th Street Corridor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Robles Elementary School Primary Regular 745 65 2
Greco Middle School Middle Regular 862 57 1
King High School High Magnet 1,889 106 4

Robles Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 65
2
GreatSchools Rating

Greco Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 57
1
GreatSchools Rating

King High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 106
4
GreatSchools Rating
 

$191,250$233,750$212,500

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$738
Property Tax -$261
Property Insurance -$108
Property Management Fees -$129
CASH FLOW
$54

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$212,500

PROJECTED PRICE

$1,290

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,063

INVESTMENT

$62,063

Down Payment
$53,125
Rehab Estimate
$5,750
Closing Costs
$3,188

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,125
Loan Amount $159,375
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$19,218

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,290

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,289

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,3204$1,4005$1,525
$1,525
RENT COMPS ANALYSIS
  • 7607 N 53rd St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.04
    •  
  • 5310 Rainbow Dr Temple Terrace, FL 1
    • 3 beds 1 baths ∙ 1,173 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,173 Sqft ∙ Built 1956
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 8607 N Orangeview Ave Tampa, FL 3
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1973
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.99
    •  
  • 7105 Bonito St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1961
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 3720 E Idlewild Ave Tampa, FL 5
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1965
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.00
    •  
PROPERTY LISTING DETAILS
Laura Meza Wulf
1.813.812.9456
Century 21 Beggins Enterprises
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287567
Last Updated: 01/30/2021
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